Professor Guerrero's Blog

mguerrero@gmail.com

Co-author of East of Tiffany's, 13 short stories of a Latino immigrant's success in USA; a journey from West Harlem to Sutton Place and Park Avenue. Check out the reviews in Amazon.com and in Barnes and Noble.

on KINDLE on NOOK

My best seller as of now is

Titanes de la Filosofia

Professor Guerrero's Blog: Chapter 4 Completing the Accounting Cycle Professor Guerrero's Blog: Book Reviews, Human Interest Articles, Accounting Lessons, and Writing Techniques

Book Reviews  

Books

Sentence Openers Book: FREE Lessons

Jane Austen  

Boethius: Consolation of Philosophy

How to Become a Writer  

Personal Finance  

Self Help, Wealth, & Learning

Greeks Romans Trojans  

Feminism  

Great Gatsby: Is Nick Gay?

All my books are now in NOOK

Ideas About the Novel is a prophetic book that all writers must own.

Ideas About the Novel by Ortega y Gasset - my translation $0.99


Next to Cervantes, Benito Perez Galdos is the most beloved Spanish writer of all times.

Torquemada at the Stake by Perez Galdos- my translation $0.99

Lazarillo of Tormes - my translation $0.99
Read it in contemporary English -- No Thous, Thees, or King James' Bible language. Transliterated into easy language for enjoyable reading pleasure. Because The Lazarillo of Tormes pointed a new direction, European and American literature benefited with titles that today are considered classics: Cervantes’ Rinconete and Cortadillo; Daniel Defoe’s Moll Flanders, Henry Fielding’s Tom Jones and Joseph Andrews; Tobias Smollett’s Roderick Random, and Peregrine Pickle; Voltaire’s Candide; Charles Dickens’ David Copperfield. And many others to include American works ranging from Mark Twain to Saul Bellow.

Dehumanization of Art by Ortega y Gasset - my translation $0.99
The Dehumanization of Art— is now a constant in music, literature, aesthetics, and philosophy, having come to mean that in post-modern times human-shaped mimesis (representation of the human) is irrelevant to art. According to Ortega, the arts don't have to tell a human story; art should deal with its own forms—and not with the human form.

Sentence Openers
How writers open their sentences makes prose agile, interesting, and athletic. This e-book teaches how to break the pattern Subject-verb-object--and discard openings that begin with nouns, articles, and pronouns.

East of Tiffany's - bestseller $5
With the city as its backdrop "East of Tiffany's" is filled with earnest tales of love, loss, faith, success and morality. While business terminology is interwoven throughout these short stories, it's not business lessons that I take away with me, but life lessons. The circumstances and the characters' profound humanity are relatable despite their zip code . "Luke, Postmodern Man" offers a new vista into faith, suffering, and love of neighbor. Way after you read this book you'll find yourself thinking about the various characters throughout the series of stories and will find solace in their unwavering faith. The narrators' ability to reflect on their hardships with such serenity is inspiring.



My writing was as flat as a sidewalk. And then I downloaded ...

Mary Duffy's Toolbox for Writers
After I purchased Mary's e-book I started to get 'A's in my essays and term papers! Every page is filled with great writing tips, training lessons, and wonderful useful writing skills! Not only do I write essays for college, but also short stories!
--IVONNIE Indrawan
College student
Sentence Openers on KINDLE

Sentence Openers on NOOK













All my books are now in KINDLE


Ideas About the Novel by Ortega y Gasset - my translation $0.99
Torquemada at the Stake by Perez Galdos- my translation $0.99
Lazarillo of Tormes - my translation $0.99
Dehumanization of Art by Ortega y Gasset - my translation $0.99
Sentence Openers
East of Tiffany's - bestseller $5


The most beloved short story from Spanish literature
All my books are in NOOK $0.99 or in Amazon KINDLE $0.99








All my books are now in NOOK

Ideas About the Novel is a prophetic book that all writers must own.
Ideas About the Novel by Ortega y Gasset - my translation $0.99

Next to Cervantes, Benito Perez Galdos is the most beloved Spanish writer of all times.

Torquemada at the Stake by Perez Galdos- my translation $0.99

Lazarillo of Tormes - my translation $0.99
Read it in contemporary English -- No Thous, Thees, or King James' Bible language.

Dehumanization of Art by Ortega y Gasset - my translation $0.99
The Dehumanization of Art— is now a constant in music, literature, aesthetics, and philosophy, having come to mean that in post-modern times human-shaped mimesis (representation of the human) is irrelevant to art.

Sentence Openers
How writers open their sentences makes prose agile, interesting, and athletic.

East of Tiffany's - bestseller $5
With the city as its backdrop "East of Tiffany's" is filled with earnest tales of love, loss, faith, success and morality.



My writing was as flat as a sidewalk. And then I downloaded ...

Mary Duffy's Toolbox for Writers
After I purchased Mary's e-book I started to get 'A's in my essays and term papers!
--Ivonnie Indrawan
College student
Sentence Openers on KINDLE

Sentence Openers on NOOK





Available in KINDLE $0.99


Available in KINDLE $0.99

Sunday, August 31, 2008

Chapter 4 Completing the Accounting Cycle

Pacioli's portrait, a painting by Jacopo de' B...Image via Wikipedia

What is a classified balance sheet?
A classified balance sheet groups the accounts into significant groups. Assets are classified into (1) current assets (2) long-term investments (3) plant property and equipment (4) intangible assets. Long-term liabilities are classified into current and long-term liabilities.

What are the four steps for closing entries?
The four steps for closing the books are (1) close the revenues to the income summary (2) close the expenses to the income summary (3) close the income summary to the capital account, and (4) close the Drawing account to the capital account.

What are current assets?
Current assets are assets that may be converted into cash within a one year period.

What are current liabilities?
Current liabilities are liabilities that must be paid within a one year period.

What type of account is the Income Summary?
The Income Summary is an owner’s equity account that is set up for a very period of time so that we may transfer the net income to the capital account.

What are Intangible Assets?
Intangible assets are assets that have no physical substance; yet, they have value and are carried in the balance sheet.

What do we mean by Liquidity?
Liquidity means having sufficient amount of cash to pay bills.

What are Permanent or Real accounts?
Permanent accounts are accounts that are never closed. They include assets, liabilities, and the capital account.

What is a post-closing trial balance?
It is a trial balance that is prepared after the closing entries have been posted.

How do you find Owner’s Equity?
We find owner’s equity by subtracting liabilities from assets.

What are Temporary or Nominal accounts?
Temporary accounts are accounts that must be closed at the end of an accounting period. They include Revenues, Expenses, and the Drawing account.

What is a Worksheet?
It is a working paper that shows the trial balance amounts, the adjustments, the income statement and the balance sheet. It isn’t a permanent record, since accountants have the option to use it or not.

What are the standard classifications of a classified balance sheet?
Assets are subdivided into: Current Assets, Long Term Investment, Property Plant and Equipment, and Intangible Assets. Liabilities are subdivided into: Current liabilities and Long Term liabilities.

What are long-term investments?
When a company has excess cash—that is, more that it needs for operations—this cash is used to buy stocks, bonds, certificates of deposit, commercial paper, or other investments. Generally, long-term investments may not be cashed in before a year.

What are the two forms in which a Balance Sheet may be presented?
The balance sheet may be presented in two forms: Account form and Report form.

Ch1 Accounting in Action

Ch2 Recording Process

Ch3 Adjusting the Accounts

Ch4 Completing the Accounting Cycle

Ch5 Merchandising Operations

Ch6 Inventories

Ch7 Accounting Information Systems

Ch8 Internal Control and Cash

Ch9 Accounting for Receivables

Ch10 PP&E, Natural Resources, and Intangible Assets

Ch11 Current Liabilities and Payroll


Ch12 Partnerships

Ch13 Corporations

Ch14 Corporations:Dividends, RE

Ch15 Long Term Liabilities

Ch16 Investment

Ch17 Statement of Cash Flows

Ch18 Financial Statement Analysis

Plato and Accounting

Price/Earnings Ratio

Plant Assets

Luca Pacioli and DaVinci


The secrets of 'no-doze' prose:
Mary Duffy's Sentence Openers




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Professor Guerrero's Blog

Co-author of East of Tiffany's, 13 short stories that will warm your heart - See 101 reviews in Amazon.com and 37 in Barnes and Noble.

on KINDLE on NOOK

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